Max Sound Corp. (OTCBB:MAXD) Climbing Despite Q3 Results
There isn’t that much interest in the stock of Max Sound Corp. (OTCBB:MAXD), but we decided to mention them after the very uneventful short session in Friday following Thanksgiving’s closed market, because things can get heated pretty soon.
MAXD is currently on an upward run, despite the dreadful Q3 report they filed on November 14. In almost 2 weeks of trades the ticker has registered only 2 sessions in the red and managed to add another small percentile gain in price in the last day before the weekend for no apparent reason.
The company stock climbed 4.55% on almost 2 times their average volume. While the company was moving from $0.22 to $0.23 per share we saw a total of 408 thousand shares switching hands, which in term generated a mere $93 thousand in dollar volume.
What amazes us, is the fact that this run comes after the dreadful results for the third quarter of the year that the company recorded.
- cash: $0
- current assets: $188 thousand
- total assets: $17 million
- revenues: $487 thousand
- net loss: $2.29 million
You may think that having $17 million in total assets is a big deal, but they are in the form of intangible assets, which as explained in the filing come from the costs related to registering the trademark and acquiring technology rights.
In other words, the only thing considered as an asset to this moment turns out to be derived from costs. Another bad sign is that we received an email yesterday, that announced MAXD is one of the picks of the week of Quality Stocks alongside Sparta Commercial Services (OTCMKTS:SRCO).
The compensation for the effort was listed as $25 thousand, so be sure to do a lot of due diligence and contain yourself from taking risks on initial impressions.
One of the few companies that registered bigger percentile movements was China Integrated Energy, Inc. (OTCMKTS:CBEH), who climbed a hefty 46% on 7 times their average volume.
